All Forum Posts by: Lenore C.

Hi All,

We own a 2 bd/2ba condo in a luxury high rise in downtown San Jose. We purchased it when we lived up there, and then have had it rented for about 5 years.  We are living in San Diego now.  San Jose has a ton of new high rises being built (5000 high rise condos or apartments are in the process of construction, or have been approved for construction, etc).  

Obviously developers think that the downtown of San Jose is worth investing in.  We have about $150K of equity in our condo (after taxes etc if we sell).  We essentially break even on the unit right now. Monthly cost to maintain unit runs about $4k. My concerns are that they could over build, and rents and property values would go down until it the units fill up again.  We could face vacancies and/or have to lower the rent and carry a loss for a while.

it seems that property values should eventually go up, if the downtown gets nicer, busier, has more jobs, restaurants, retail, etc.  Silicon valley needs more housing and jobs are in abundance.  The downtown of San 

I am not sure how to decide on whether to rent again (lease is coming up for current tenants and they are moving out) or sell now?

Any thoughts would be appreciated!

Hi All,

We own a 2 bd/ba condo in a luxury high rise in downtown San Jose.  We purchased it when we lived up there, and then have had it rented for about 5 years. We are living in San Diego now and we are trying to get a sense of what is happening in the downtown area of San Jose.  I know there is a lot of construction starting for rental and sales of condos.  We were wondering if there was about to be a glut in the market and property values and rents would go down?  Or if San Jose downtown would finally become a more desirable place to live and property values would start climbing?  I was wondering if anyone who is up there has a feel for the direction things are headed in the downtown area?

Thank you!